“Our execution is reshaping the competitive landscape and in the process building sustainable competitive advantage for Medidata.”

The firm has now lifted full-year revenue to between $217m and $219m, up from previous guidance of $213m and $217m.

However Garen Sarafian, VP of healthcare technology and distribution at Citi Research believes the $100m figure is not as impressive as first thought.

He said: “Medidata won its largest contract to date with a current top ten pharma client, that while impressive is a more realistic $57M in guaranteed sales over three years excluding optional renewals”

Nevertheless, Citi still predicts an incremental $10m, $15m, and $25m in revenues for 2013- 2015 for the firm, “as the win with its current client expands to its new run rate.”

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